Real estate syndication offerings
- Statute:
- New York §352-e · Law GBS (General Business Law (Martin Act))
- Topic:
- Records & Disclosure · Offering plan
- Applies to:
- HOA associations
Requires anyone making a public offering of securities consisting of participation interests in real estate (including cooperatives, condominiums, and 'interest in homeowners association and other cooperative interests in realty, including homes subject to deed or covenant or agreements requiring investment therein') to file an offering statement or prospectus with the NY Department of Law before offering or sale. For residential conversions, the AG must issue an acceptance letter no sooner than 4 months and no later than 6 months from submission. Deposits must be held in special escrow pending delivery unless insurance is obtained. Filing fees range from $750 to $60,000 based on offering size.
📄 Read the official text at nysenate.gov →
Full statutory text
How SoShiny helps with Real estate syndication offerings
SoShiny gives every owner instant, permissioned access to the official records this statute requires — searchable, audit-logged, and exportable for state inspections. The records survive every board turnover because they live in one place, not in someone's inbox.
See the feature → Start freeFrequently asked
- What does New York §352-e require?
- Requires anyone making a public offering of securities consisting of participation interests in real estate (including cooperatives, condominiums, and 'interest in homeowners association and other cooperative interests in realty, including homes subject to deed or covenant or agreements requiring investment therein') to file an offering statement or prospectus with the NY Department of Law before offering or sale. For residential conversions, the AG must issue an acceptance letter no sooner than 4 months and no later than 6 months from submission. Deposits must be held in special escrow pending delivery unless insurance is obtained.
- Who does New York §352-e apply to?
- New York §352-e applies to HOA associations in New York.
- What happens if our co-op or condo doesn't comply with §352-e?
- Non-compliance with this New York statute can expose the association and its officers to private civil suit, and (for offering-plan / sponsor matters under GBS) to enforcement action by the New York Attorney General's Real Estate Finance Bureau. SoShiny's audit trail and documented workflows are designed to demonstrate good-faith compliance.
- Where can I read the official text of New York §352-e?
- The official text is published by the New York State Legislature at nysenate.gov. The summary on this page is for plain-English reference only and is not legal advice.
- How does SoShiny help with Real estate syndication offerings?
- SoShiny gives every owner instant, permissioned access to the official records this statute requires — searchable, audit-logged, and exportable for state inspections. The records survive every board turnover because they live in one place, not in someone's inbox. Learn more →
Not legal advice. This page is a plain-English summary of New York §352-e prepared by SoShiny for board members and managers. For binding legal advice or interpretation, consult a New York-licensed attorney. For the official statutory text, see the link above.
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